There exist several benefits attached to choosing a chartered accountant for your business, and this article will meticulously fill you in on the primary benefits you’ll derive from hiring a chartered accountant for your business. Does it really matter if your accountant is a chartered accountant?
Moreover, as long as they are taking good care of your financial statements and offering you the best payroll services, does it really matter? The truth is the danger associated with trusting your financial affairs with an accountant that isn’t chartered can be vast. In fact, it could turn out to be that obvious difference between your accounts being taken care of professionally, ethically and overboard, versus you being entangled in a dishonest activity.
Still not convinced? Below are five reasons why you should choose a chartered accountant:
Chartered accountants are more than just “bean counters”. Take a good look at the best tax and audit specialists in big organizations and major accounting firms in Singapore and it’s very probable that you’ll find a chartered accountant. This simply explains the usefulness of a chartered accountant, and it also tells you that these individuals are known as being more competent and effective than normal accountants.
1. For advice you can depend on
By adopting the service of a chartered accountant, you are very much assured that the advice you are getting is both authentic and informed. Regarding your finances, you are assured that your money is in the safest hands; chartered accountants must follow professional development standards, making sure that their skills and knowledge are up-to-date.
2. They are regulated by professional bodies
If you work with a chartered accountant, you’ll certainly benefit from the services of a qualified person that is obliged by certain code of ethics and professional standards. Not only will these individuals have certain rules, regulations, and procedures in place, including disciplinary procedures and complaints, these special individuals will also go through monitoring of compliance and quality reviews concerning their professional practice.
3. Backed up by experience
To make the cut as a chartered accountant, your chartered accountant will be required to work for several clients across a range of diverse industries. Building an effective business awareness and durable personal decision, they will have likely gained the best of experiences working with organizations that are high performing compared to those under certain financial distress.
Ensure you go for a chartered accountant that suits your particular business or company, and you’ll derive several benefits from certain expertise that suits your scale and type of business.
4. Because integrity matters
Your accountant may have to handle your finances and that of your business, so you’ll have to be confident that you can trust them with the information you provide them with. Chartered accountants are held by a certain code of ethics to hold high certain set of professional principles, determined to constantly put the interests of their clients above theirs. Frequent practice entails that these individuals showcase a commitment to keeping and developing professional standards, so you are rest assured that your financial interests always comes first.
5. More than just filing returns
Certainly, you can use the services of your accountant as much or as little as the demand of your business, but if you require something more than just filing tax returns and ensuring that your records are updated, a trustworthy accountant can assist you in growing your business and taking care of your risks. Unless chartered or qualified with a known professional entity, anybody can tag themselves an accountant, even if they own no professional qualifications or training to support their claims.
So, what position does it put you and your business if your accountant makes certain mistakes that end up affecting your business and reducing your business valuation? With this in mind, ensure you go for the services of a chartered accountant whenever you need the services of an accountant.